Key Things to Expect from the Internal Auditors’ Meet in Dubai
Auditing is one of the most crucial processes that have a big role in shaping up the growth and reputation of a company. In this regard, the role of auditors and auditing firms is indispensable to companies, especially in a dynamic business hub like Dubai, UAE. Auditors face many challenges in an ever-changing corporate landscape at a time when digital transformation is altering the face of businesses in Dubai and other parts of the world.
The 20th Annual Regional Audit Conference (ARAC)
UAE Internal Auditors Association is hosting the 20th Annual Regional Audit Conference (ARAC) where more than 1500 Internal auditing professionals from across the MENA region will be representing the auditing firms and discuss the modern challenges faced by the industry.
The conference is themed as ‘Future Technology Shaping IA’ will be a 3-day event starting from 12th April 2020 & ending on 14th April 2020 at the Dubai International Convention and Exhibition Center. This is supposed to be the largest ‘Smart’ Conference and Training Event-related to Internal Auditing in the Middle East.
The conference will help in enabling the member of the Internal Auditors Association(IIA) to maintain their IIA certifications and qualifications, the conference provides an opportunity to earn up to 13 Continuing Professional Education (CPE) credit hours over the 2 main days of the conference (April 13-14, 2020). Auditors can earn an additional 7 CPEs when they attend the pre-conference workshops.
What the Conference can Offer to Auditors in Dubai?
The conference put forward the idea that the auditors and auditing firms should acquire the ability and knowledge to forecast and foresee future trends and challenges. In line with this, the conference will discuss future trends in accounting and audit practices and find solutions to the emerging challenges in the new economy.
Internal audit professionals in Dubai and across the MENA region will have the opportunity to share and discuss innovative ideas and concepts with thought leaders, speakers, and experts. The organizers claim the conference will be setting new trends and milestones as far as internal auditing in Dubai is concerned.
Audit Firms in Dubai and the Rise of Future Tech
In the present era, the quality of being ‘technologically up-to-date’ has become one of the top criteria while choosing an auditor. However, technology is also one of the top areas that pose challenges to auditing firms even though it offers a plethora of opportunities to auditors.
Auditors in Dubai benefit from the fact that the region boasts of being one of the top business hubs aware of the challenges arising from newer technologies. In fact, the UAE is the first country to have a dedicated ministry for Artificial Intelligence.
The conference organized by the UAE Internal Auditors Association ( UAE IAA) will put special focus on challenges faced by auditors from Artificial Intelligence (AI), Digital Transformation, data privacy, digitization, cybersecurity, and robotics.
Why Internal Auditing is so Important for the Businesses?
Audit firms in Dubai play a big part in evaluating a company’s internal controls. This includes the company’s corporate governance and accounting processes.
The internal auditors are professionals who work to ensure compliance with laws and regulations. Internal auditing helps to maintain accurate and timely financial reporting and data collection. Internal auditing services help businesses in Dubai to identify any weakness in internal controls, operational efficiency or regulatory compliance.
Internal auditing in Dubai is conducted by Certified Internal Auditors who possess in-depth knowledge of internal controls, processes, and systems. By conducting an internal audit the company can ensure whether they are on the right track or not by improving risk management and follow international and local guidelines.
Companies in Dubai can also benefit from internal audits as it also provides them with the right tools to gain operational efficiency by identifying problems and correcting lapses before they are identified in an external audit.
Jitendra Chartered Accountants offer internal auditors services in Dubai & across UAE to identify risk and advise the improvement procedure to help you achieve the business goals. We are also registered auditors in UAE to conduct an external audit in compliance with local UAE laws & as per the International Financial Reporting Standard (IFRS).